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<br /> <br /> <br />REQUEST FOR COMMISISON CONSIDERATION <br /> <br />ITEM DESCRIPTION: Open To Business Update <br />DEPARTMENT HEAD’S APPROVAL: <br />CITY MANAGER’S APPROVAL: <br />No comments to supplement this report ___ Comments attached ___ <br /> <br />Recommendations:  No Action at this time. <br /> <br />History:  In 2015, the EDC spent significant time discussing Business Retention & <br />Expansion (BR&E) efforts, and ultimately recommended contracting with <br />Open to Business (OTB) to provide business counseling and resources to <br />local existing/prospective entrepreneurs. <br /> In 2016, 89 hours of OTB staff time was spent assisting 10 local businesses. <br /> An estimated four (4) jobs were created or retained thanks to the <br />program. <br /> Financing for one (1) loan of $17,500 was directly facilitated by the <br />program <br /> In 2017, 67 hours of OTB staff time was spent assisting 10 local businesses. <br /> No estimate provided on jobs either created or retained thanks to the <br />program. <br /> No loans were reported. <br /> In 2018, 106 hours of OTB staff time was spent assisting 9 local businesses. <br /> No estimate was given on jobs either created or retained thanks to the <br />program. <br /> Financing for one (1) loan of $11,500 was directly facilitated by the <br />program <br /> The program was continued locally into 2019 with knowledge that Open To <br />Business and Ramsey County were in negotiations to provide the service <br />county-wide. <br /> <br />Agenda Section: VI <br />Item: 1 <br />Report Date: 07/30/19 <br /> Commission Meeting Date: 08/07/19